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Jeters Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1

Jeters Company uses a periodic inventory system and reports the following for the month of June.

Date

Explanation

Units

Unit Cost

Total Cost

June 1

Inventory

120

$5

$ 600

12

Purchases

370

6

2,220

23

Purchases

200

7

1,400

30

Inventory

230

(a1)

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Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average unit cost

$enter a weighted-average unit cost in dollars enter a weighted-average unit cost in dollars

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(a2)

Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

Average-cost

The cost of the ending inventory

$enter a dollar amount enter a dollar amount $enter a dollar amount enter a dollar amount $enter a dollar amount enter a dollar amount

The cost of goods sold

$enter a dollar amount enter a dollar amount $enter a dollar amount enter a dollar amount $enter a dollar amount enter a dollar amount

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